Pakistan Petroleum Limited (PPL), a key supplier of natural gas in the country, has commenced production of hydrocarbon from the Adhi South-6 well, located in the Pothwar region, Punjab.
The E&P shared the development in its notice to the Pakistan Stock Exchange (PSX) on Friday.
“As part of our continuous efforts for increasing production of oil and gas, we are pleased to disclose encouraging development about the commencement of production from Adhi South-6, a new development well drilled in Adhi Mining Lease,” said PPL.
The company shared the Adhi South-6 was successfully drilled to a depth of 3,490 meters and completed as a producer based on encouraging log results.
“Subsequent to tie-in of the well with the plant, production from the well has commenced at the rate of 600 bpd (barrels per day) of oil and 0.4 MMscfd of gas at 32/64” choke,“ read the notice
Adhi Mining Lease is operated by PPL with a 39% working interest along with joint venture partners Oil & Gas Development Company Ltd (OGDCL) and Pakistan Oilfield Ltd (POL) with a working interest of 50% and 11%, respectively.
Exploration at Adhi began in 1956, its major clients are SNGPL for gas, Attock Refinery Limited for LNG/ crude oil and various LPG marketing companies.
On Monday, PPL announced the discovery of hydrocarbon reserves in Shah Bandar Block, located in the district of Sujawal, Sindh.
The company in a notice to the bourse back then shared that this is the second discovery of hydrocarbon reserves in the Shah Bandar Block.
PPL saw its profit-after-tax (PAT) jump nearly 79%, as it clocked in at Rs97.22 billion for the year ended June 30, 2023. In the same period last year, the exploration and production company saw PAT of Rs54.35 billion.